Japan’s Panasonic Corp reported on Wednesday a sharper than expected 44% plunge in first-quarter operating profit, as Sino-U.S. trade tensions dampened demand for its auto components and factory equipment in China. Panasonic, the exclusive battery cell supplier for Tesla (NASDAQ:TSLA)...
Apple Inc (O:AAPL) iPhone sales dropped to less than half of quarterly revenue for the first time in seven years, but CEO Tim Cook on Tuesday described the change as successfully diversifying away from a single product and forecast results above Wall Street targets. That strategy proved...
Months of increasingly violent protests in Hong Kong are taking a growing toll on the city’s economy, weighing on confidence and scaring away tourists from one of the world’s most vibrant shopping destinations. Economists say the impact of anti-government protests over the past...
Here are the top five things you need to know in financial markets on Tuesday, July 30: Fed kicks off meeting; consumer, housing data on tap The Federal Reserve kicks off its two-day policy meeting with markets expecting the first U.S. interest rates cut in more than a decade. With a...
Heineken NV (AS:HEIN), the world’s second-largest brewer, missed estimates for first-half profit on Monday, as rising input costs offset higher beer sales. The Dutch maker of Heineken, Europe’s top-selling lager, maintained its full-year forecast that operating profit before...
Barclays (L:BARC), JP Morgan (N:JPM), RBS (L:RBS), UBS (L:UBSG) and Citigroup (N:C) are being sued by investors over allegations they rigged the global foreign exchange market, in a test of U.S.-style class actions in Britain. The claim, estimated to be worth more than 1 billion pounds ($1.24...
Chinese authorities investigating FedEx Corp (N:FDX) suspect the U.S. delivery company illegally withheld more than 100 packages of Huawei Technologies and that it also violated other laws, state news agency Xinhua reported on Friday. Beijing started a probe into FedEx last month after Huawei...
The U.S. economy likely grew at its slowest pace in more than two years in the second quarter as an acceleration in consumer spending was probably offset by weak exports and business investment. The anticipated moderation in growth will come against the backdrop of rising risks to the...
By Elizabeth Dilts, Sweta Singh and Neal Templin (Reuters) – JPMorgan Chase & Co (N:JPM) reported a better-than-expected quarterly profit on Tuesday as higher interest income and buoyant consumer lending offset lower activity at its trading desks. Even as the world’s biggest...
Investing.com – U.S. futures were flat on Tuesday, uninspired by earnings from JPMorgan and Johnson & Johnson that both beat expectations. JPMorgan (NYSE:JPM) reversed initial gains to be down 1.6% in premarket trade, despite its earnings coming out better than expected. As...
